Title: Grove Resort CDD February 2026 Financials
Author: montejanor

Grove Resort CDD

Grove Resort CDD
February 2026 Financial Package

February 28, 2026

PFM Group Consulting, LLC
3501 Quadrangle Blvd
Suite 270
Orlando, FL 32817
(407) 723-5900

Statement of Financial Position As of 2/28/2026

General Fund

Debt Service Fund

Capital Projects Fund

| Assets | |

Current Assets
General Checking Account

$879,046.80

Accounts Receivable | 24,750.00 | | |
Assessments Receivable | 469,985.02 | | |
Assessments Receivable (17) | | | $324,973.62 |
Assessments Receivable (22) | | | 155,553.79 |
Debt Service Reserve - Series 2017A | | | 937,254.44 |
Debt Service Reserve - Series 2022A | | | 157,837.13 |
Revenue - Series 2017A | | | 895,821.85 |
Interest - Series 2017A | | | 0.31 |
Interest - Series 2022A | | | 14.76 |
Prepayment A1 Bond | | | 107.66 |
Principal - Series 2017A | | | 77.67 |
Revenue - Series 2022A | | | 10,833.59 |
Acquisition/Construction - Series 2022A | | | | $10,758.90
Total Current Assets | $1,373,781.82 | | $2,482,474.82 | | $10,758.90

  

Investments
Amount Available in Debt Service Funds Amount To Be Provided
Total Investments

Total Assets

Current Liabilities Accounts Payable Deferred Revenue Deferred Revenue Deferred Revenue
Total Current Liabilities

Long Term Liabilities
Revenue Bonds Payable - Long-Term Total Long Term Liabilities

Total Liabilities

Net Assets
Net Assets, Unrestricted
Current Year Net Assets, Unrestricted
Net Assets - General Government Current Year Net Assets - General Govt
Fund Balance Nonspendable Prepaid Net Assets, Unrestricted
Current Year Net Assets, Unrestricted
Net Assets, Unrestricted
Current Year Net Assets, Unrestricted

Total Net Assets

Total Liabilities and Net Assets

 
$0.00	$0.00

$1,373,781.82	$2,482,474.82

Liabilities and Net Assets

469,985.02 $523,253.82 | | $324,973.62 155,553.79 $480,527.41
$0.00 | | $0.00
$523,253.82 | | $480,527.41
($239,344.16) (46,488.00) 677,695.96 369,140.20 89,524.00 | | $2,057,429.31 (55,481.90)
$850,528.00 | | $2,001,947.41
$1,373,781.82 | | $2,482,474.82

$53,268.80

 

$0.00

$10,758.90

$0.00

$0.00

$0.00

$8,277.83 2,481.07

$10,758.90

$10,758.90

General Long Term Debt | | Total
$0.00 | | $879,046.80 24,750.00 469,985.02 324,973.62 155,553.79 937,254.44 157,837.13 895,821.85 0.31 14.76 107.66 77.67 10,833.59 10,758.90 $3,867,015.54
$2,001,947.41 11,913,052.59 $13,915,000.00 | | $2,001,947.41 11,913,052.59 $13,915,000.00
$13,915,000.00 | | $17,782,015.54
$0.00 | | $53,268.80 469,985.02 324,973.62 155,553.79 $1,003,781.23
$13,915,000.00 $13,915,000.00 | | $13,915,000.00 $13,915,000.00
$13,915,000.00 | | $14,918,781.23
$0.00 | | ($239,344.16) (46,488.00) 677,695.96 369,140.20 89,524.00 2,057,429.31 (55,481.90) 8,277.83 2,481.07 $2,863,234.31
$13,915,000.00 | | $17,782,015.54

Statement of Activities As of 2/28/2026

General Fund

Debt Service Fund

Capital Projects Fund

General Long Term Debt

Total

Revenues

On-Roll Assessments | $569,629.93 | | | | | | | | $569,629.93
Off-Roll Assessments | 185.97 | | | | | | | | 185.97
Other Income & Other Financing Sources | 16,599.10 | | | | | | | | 16,599.10
On-Roll Assessments | | | $589,789.26 | | | | | | 589,789.26
Inter-Fund Group Transfers In | | | (2,368.76) | | | | | | (2,368.76)
Inter-Fund Transfers In | | | | | $2,368.76 | | | | 2,368.76
Total Revenues | $586,415.00 | | $587,420.50 | | $2,368.76 | | $0.00 | | $1,176,204.26

Expenses

Supervisor Fees | $1,200.00 | | | | | | | | $1,200.00
Trustee Services | 5,893.03 | | | | | | | | 5,893.03
Management | 12,500.00 | | | | | | | | 12,500.00
Engineering | 1,098.30 | | | | | | | | 1,098.30
Disclosure Agent | 10,000.00 | | | | | | | | 10,000.00
District Counsel | 8,467.18 | | | | | | | | 8,467.18
Assessment Administration | 20,000.00 | | | | | | | | 20,000.00
Travel and Per Diem | 604.73 | | | | | | | | 604.73
Postage & Shipping | 13.21 | | | | | | | | 13.21
Legal Advertising | 194.42 | | | | | | | | 194.42
Web Site Maintenance | 925.00 | | | | | | | | 925.00
Dues, Licenses, and Fees | 175.00 | | | | | | | | 175.00
General Liability Insurance | 8,615.00 | | | | | | | | 8,615.00
Property & Casualty | 155,661.50 | | | | | | | | 155,661.50
Cyber Liability | 313.00 | | | | | | | | 313.00
Contingency | 887.39 | | | | | | | | 887.39
Capital Expenditures | 46,488.00 | | | | | | | | 46,488.00
Principal Payments - Series 2017A | | | $280,000.00 | | | | | | 280,000.00
Interest Payments - Series 2017A | | | 384,011.25 | | | | | | 384,011.25
Total Expenses | $273,035.76 | | $664,011.25 | | $0.00 | | $0.00 | | $937,047.01

Other Revenues (Expenses) & Gains (Losses)

Interest Income | $9,272.96 | | | | | | | | $9,272.96
Interest Income | | | $21,108.85 | | | | | | 21,108.85
Interest Income | | | | | $112.31 | | | | 112.31
Total Other Revenues (Expenses) & Gains (Losses) | $9,272.96 | | $21,108.85 | | $112.31 | | $0.00 | | $30,494.12
Change In Net Assets | $322,652.20 | | ($55,481.90) | | $2,481.07 | | $0.00 | | $269,651.37
Net Assets At Beginning Of Year | $527,875.80 | | $2,057,429.31 | | $8,277.83 | | $0.00 | | $2,593,582.94
Net Assets At End Of Year | $850,528.00 | | $2,001,947.41 | | $10,758.90 | | $0.00 | | $2,863,234.31

Budget to Actual
For The Month Ending 2/28/2026

Variance | FY 2026 Adopted Budget | | Percentage
$136,444.08 | $ 1,039,646.09 | 54.79%
48.92 | 328.91 | 56.54%
(20,900.90) | 90,000.00 | 18.44%
$115,592.10 | $ 1,129,975.00 | 51.90%
$(800.00) | $	4,800.00 | 25.00%
1,726.38 | 10,000.00 | 58.93%
0.00 | 30,000.00 | 41.67%
(5,151.70) | 15,000.00 | 7.32%
5,833.35 | 10,000.00 | 100.00%
(625.00) | 1,500.00 | 0.00%
(16,532.82) | 60,000.00 | 14.11%
11,666.65 | 20,000.00 | 100.00%
(312.50) | 750.00 | 0.00%
(4,166.65) | 10,000.00 | 0.00%
(416.65) | 1,000.00 | 0.00%
(20.85) | 50.00 | 0.00%
(1,895.27) | 6,000.00 | 10.08%
(611.79) | 1,500.00 | 0.88%
(847.23) | 2,500.00 | 7.78%
(62.50) | 150.00 | 0.00%
(200.00) | 2,700.00 | 34.26%
102.10 | 175.00 | 100.00%
1,427.50 | 17,250.00 | 49.94%
(7,417.65) | 391,390.00 | 39.77%
(3.65) | 760.00 | 41.18%
(5,362.61) | 15,000.00 | 5.92%
(47,916.65) | 115,000.00 | 0.00%
(126,199.60) | 414,450.00 | 11.22%
$(197,787.14) | $ 1,129,975.00 | 24.16%
$(197,787.14) | $ 1,129,975.00 |
$313,379.24 | $ | - |
$9,272.96 | $ | - |
$9,272.96 | $ | - |
$322,652.20 | $ | - |

Year To Date

Revenues

Actual

Budget

On-Roll Assessments | $569,629.93 | | $433,185.85
Off-Roll Assessments | 185.97 | | 137.05
Other Income & Other Financing Sources | 16,599.10 | | 37,500.00
Net Revenues | $586,415.00 | | $470,822.90

	 	
General & Administrative Expenses

Supervisor Fees | $1,200.00 | | $2,000.00
Trustee Services | 5,893.03 | | 4,166.65
Management | 12,500.00 | | 12,500.00
Engineering | 1,098.30 | | 6,250.00
Disclosure Agent | 10,000.00 | | 4,166.65
Property Appraiser | 0.00 | | 625.00
District Counsel | 8,467.18 | | 25,000.00
Assessment Administration | 20,000.00 | | 8,333.35
Reamortization Schedules | 0.00 | | 312.50
Audit | 0.00 | | 4,166.65
Arbitrage Calculation | 0.00 | | 416.65
Tax Preparation | 0.00 | | 20.85
Travel and Per Diem | 604.73 | | 2,500.00
Postage & Shipping | 13.21 | | 625.00
Legal Advertising | 194.42 | | 1,041.65
Property Taxes | 0.00 | | 62.50
Web Site Maintenance | 925.00 | | 1,125.00
Dues, Licenses, and Fees | 175.00 | | 72.90
General Liability Insurance | 8,615.00 | | 7,187.50
Property & Casualty | 155,661.50 | | 163,079.15
Cyber Liability | 313.00 | | 316.65
Contingency | 887.39 | | 6,250.00
3-Month Reserve | 0.00 | | 47,916.65
Capital Expenditures | 46,488.00 | | 172,687.60
Total General & Administrative Expenses | $273,035.76 | | $470,822.90
Total Expenses | $273,035.76 | | $470,822.90
Income (Loss) from Operations | $313,379.24 | | $0.00

Other Income (Expense)

Interest Income | $9,272.96 | | $0.00
Total Other Income (Expense) | $9,272.96 | | $0.00
Net Income (Loss) | $322,652.20 | | $0.00

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